GO
Loading...

Apple Stock to $600: ISI’s Marshall

Apple's stock price will benefit from major improvements to two of the company's product lines, Brian Marshall of ISI Group said Monday.

"I actually think we could see $600 because, if you think about it, 85 percent of the company's gross profits come from the iPhone and the iPad," he said.

(Read More: Apple WWDC Live Blog)

"We're going to see very significant upgrades to both those product families over the next six to nine months, and I think that's going to move the needle."

(Read More: Apple Stock 'Needs a Bit of Clarity': Pro)

Shares of Apple traded up more than 1 percent midday at $447.

On CNBC's "Fast Money," Marshall said that hedge fund manager Jeff Gundlach's target of $500 for Apple stock was a safe call.

"I think Jeff's probably conservative at $500 if we extend six to nine months out," he added.

(Read More: Apple Stock Heading to $500: Jeff Gundlach)

Marshall, who had a "strong buy" recommendation on the stock, also said that Apple needed a cheaper version of its popular iPhone to grow its markets.

"We need this low-cost iPhone to drive incremental penetration abroad, where their penetration is lower, but at higher margins," he said. "We think they can do that."

(Watch Video: Jim Cramer: McDonald's Beats Apple on Innovation)


Symbol
Price
 
Change
%Change
AAPL
---

Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET